Gold sovereign purchase and first world problems

kempiejon

Hatton Garden London, EC1 have plenty of outlets where gold soverigns and Britannias can be bought and sold for cash. Both are exempt from UK CGT taxes. You can get at least £10k in your prison pocket without too much practice.

ColdIron

Ignoring the wisdom of buying gold or hiding it from your partner, these are reputable vendors:

https://www.chards.co.uk/

https://www.bairdmint.com/

https://atkinsonsbullion.com/

https://www.bullionbypost.co.uk/

https://www.hattongardenmetals.com/

Bullion gold is free from VAT and UK legal tender coins (sovs, Britannias etc) are exempt from CGT

You won't be able to insure them (unless they are a 'collection') any more than you can insure a duffle bag full of tenners and twenties buried in you garden or under the stairs

Remember that the first two rules of physical gold club are the same as the first two rules of Fight Club

QrizB

ColdIron said:

Remember that the first two rules of physical gold club are the same as the first two rules of Fight Club

I like that analogy

DRS1

Also bear in mind you may end up buying a fake sovereign.  You would be better off with a gold ETF (the spread is better too)

Ash_Pole

DRS1 said:

Also bear in mind you may end up buying a fake sovereign.  You would be better off with a gold ETF (the spread is better too)

Surely if using one of the reputable dealers linked to above this wouldn't be a concern?

DRS1

Ash_Pole said:

DRS1 said:

Also bear in mind you may end up buying a fake sovereign.  You would be better off with a gold ETF (the spread is better too)

Surely if using one of the reputable dealers linked to above this wouldn't be a concern?

Not necessarily.  If you watch some of Lawrence Chard's videos about fake sovereigns you will hear references to "one of our competitors".  No names mentioned of course.

DRS1

But the reputable ones would presumably be good about taking back a fake if  they sold you one (and if you could spot it - not everyone has Lawrence Chard's eagle eye.)

Qyburn

What's an "early inheritance", a gift from someone still living?

MeteredOut

Qyburn said:

What's an "early inheritance", a gift from someone still living?

Probably someone trying to avoid IHT, on the expectation they'll survive another 7 years.

QrizB

MeteredOut said:

Qyburn said:

What's an "early inheritance", a gift from someone still living?

Probably someone trying to avoid IHT, on the expectation they'll survive another 7 years.

Or (if it's a briefcase full of cash) someone trying to avoid IHT in the fear that they won't survive for another 7 years?